BSE is among the world's ten largest exchanges in terms of market value, while it is the largest globally for number of firms listed on its platform.
Since the Budget announcement on July 5, FIIs have been busy unloading their stock.
Keep exit plans handy, D-day could be the second week of August, writes Sonali Ranade in Market Notes.
His exit has created a benchmark of sorts for how entrepreneurs and businesses should deal with debt crises. Unlike many other Indian businessmen, he hasn't fled, tried to hang on to the business by any means or wrangle out of the debt by using his closeness to the current government. It is so very rare for Indian media businesses to grow out of their founding family's shadow, however, benevolent it may be.
NBFCs are mainly dependent on funding their operation from their own cash flows.
The BSE Sensex opened on a positive note, hit the day's high of 7175.15 in early morning trades and gradually started paring its gains.
On a day when several mandis across the country are closed in protest against the recent Centre's decision to impose stringent stock-holding limit on pulses, the government clarified that limits have been defined as retail prices are still higher than last year though there is some moderation in the last few weeks. It said the same logic also holds true for edible oils, the import duties on which was slashed few days back and curbs lifted on import of refined oils. The decision on edible oil and pulses have caused massive resentment among the trading community as it came just ahead of the kharif sowing season, when prices were off their peaks due to multiple steps announced previously. Sources said trading activity in some of the major mandis dealing in pulses such as Sholapur, Amravati and Latur in Maharashtra, Indore and Dewas in Madhya Pradesh along with Kanpur in Uttar Pradesh was impacted as traders went on a flash strike in protest against the decision to impose stock limits.
The Sensex opened on a flat (up two points) note at 6,513, and snapped gains immediately on the resumption of selling pressure.
In the first two months of the current fiscal, Indian exports of finished steel reportedly grew by almost 76 per cent on a YoY basis and China alone accounted for close to 60 per cent of the increase.
The Nifty lost 220 points to close at 5,561.
